Balthazar has announced that it will enter the play-to-earn space that connects NFT investors and players who cannot afford the broadcast cost. Still, in its infancy in the growing NFT playground, Balthazar has raised $3 million in its first token sale and has launched another $8 million private token sales, which closes in February.
The company’s purpose is to bring together people who want to play but cannot afford the entry price with NFT investors to make a profit. Animoca Brands spearheaded the first token sale as one of the leading investors in the crypto space with over 150 investments in NFTs and play-to-earn games.
Balthazar CEO John Stefanidis gave the following words in his speech:
“We are so thrilled to be backed by Animoca Brands and all of our supporters in helping to shape the metaverse and to continue assisting and expanding our community.”
This Decentralized Autonomous Organization (DAO) aims to empower gamers, creating a self-sustaining, wealth-building ecosystem that will benefit gamers and gaming NFT investors.
Balthazar will connect investors to NFT gaming assets and allow them to lease their assets to players called scholars or wizards. The “scientists” will use investors’ assets to play games like Axie Infinity, Splinterlands, and Thetan Arena, earn tokens and share their earnings with investors.
Stefanidis continued with the following words:
“I’m excited about the future of the play-to-earn space, in particular how it’s spreading earning opportunities to those who need it most, as well as providing a new use-case for cryptocurrency.”
Entering play-to-earn games requires an upfront investment to purchase NFT. Entry fees range from $100 to several thousand dollars depending on the game. These entry costs make it difficult for new players who can’t afford to buy NFT. Balthazar plans to address this issue by allowing players to borrow NFTs from investors.
Balthazar also aims to release its own NFT game, release a game console concept and allow game studios to publish games through the platform. In other words, platform members will be able to sell their NFT gaming assets through Balthazar.